Shares of IC Electricals made a blockbuster D-Street debut on Friday, listing at a 68% premium over the IPO price. The stock opened at Rs 166 apiece on the NSE SME platform, compared with its issue price of Rs 99. The debut exceeded unlisted market expectations. Ahead of the listing, the company's shares were commanding a grey market premium (GMP) of Rs 44, indicating an estimated listing price of around Rs 143 against the upper issue price of Rs 99—a potential gain of nearly 45%.
The IC Electricals IPO received an overwhelming response from investors, with the public issue being subscribed 420.09 times by the close of bidding. The retail investor segment witnessed subscriptions of 372.51 times, while the Qualified Institutional Buyers (QIBs) portion was booked 241.75 times. Demand was strongest in the Non-Institutional Investors (NIIs) category, which was subscribed 764.38 times.
